PGI to invest $27 million in San Luis Potosi

PGI announced it will invest $27 million to build a new plant in the World Trade Center industrial park (WTC II) in San Luis Potosi, Mexico, where it will generate more than 270 jobs and develop aluminum injection, machining and precision finishing products.

The plant is expected to open in the first quarter of 2021, and the company projects yearly sales of more than $100 million as the plant helps the company act as a supplier to automotive companies such as Ford, General Motors and Volkswagen.

According to Michael Smith, PGI's chairman of the board of directors, San Luis Potosi offers a high availability of qualified personnel for the automotive industry, as well as an established transportation and logistics network.

For his part, Fernando Ibarra, general director of the PGI San Luis Potosi Plant, says T-MEC established significant increases in the value of automotive parts manufactured in the region, which is why it was determined to invest in the state.

State Governor Juan Manuel Carreras said PGI’s arrival reflects the region’s goal to attract investments to WTC II to strengthen the automotive cluster.

“[PGI’s investment] boosts the confidence of other investors,” says Carreras-Lopez. “Just last week another automotive supplier company, Metal Technologies, announced a $26-million investment as part of the expansion project of its plant in WTC II, which will generate 175 additional jobs.”

Also present at the announcement were Manuel Lozano Nieto, the Secretary of Labor and Social Welfare; Mikel Porrino, the director of the WTC Industrial Park; and Gabriela Rivera Grimaldo, the director of the Pro San Luis Agency.